The latest mergers, acquisitions and other corporate actions in the wealth management sector.

JTC, FFP
JTC, a global professional services business headquartered in Jersey, has wrapped up the acquisition of Cayman-based FFP, which provides specialist fiduciary services to fund, trust and corporate clients. The acquisition was first announced in June. 

The deal forms part of JTC’s initiative to establish a governance services practice which will help drive organic growth and add value to the group’s global client base.  

FFP will use JTC’s operational infrastructure and global network of 37 offices to accelerate geographic expansion beyond FFP’s current footprint to capture demand for its specialist services within the framework of JTC’s governance services practice. 

The FFP team, including the founders and senior management, will remain with JTC post completion. All employees will become owners of JTC through its “Shared Ownership” programme, which ensures 100 per cent of JTC employees are owners of the business.  

“As well as strengthening our well-established presence in the Cayman Islands, FFP will play a key role in the development of our governance services practice globally, which forms part of our wider growth strategy for the group during our current “Cosmos Era” business plan,” Nigel Le Quesne, CEO of JTC, said. 

Succession Wealth, True Wealth Group
UK wealth manager Succession Wealth has acquired Leeds-based True Wealth Group, a financial planning and wealth management group with £1.1 billion ($1.4 billion) in assets under advice.

True Wealth Group’s management team, led by co-founders John Baxter and Tim Crew, has been providing financial planning, wealth management, and consultancy services for 20 years. In 2017, the team began acquiring financial advice practices as well as firms that provide services to financial advisors, assembling a group of 10 firms united by the desire to deliver a first-class service to clients.

Headquartered in Leeds, it operates in five offices across the UK, including a Belfast base, which will represent Succession Wealth’s first entry in Northern Ireland. 

The deal marks Succession’s fifth acquisition under Aviva ownership and its third of 2024, following the purchases of DFP Health & Wealth Management and London Wall Partners. Together, the three acquisitions in 2024 have brought in £2.2 billion of client assets to the firm which manages over £9 billion of their money. 

“This acquisition enhances our presence in the north of England and marks our expansion into Northern Ireland, areas key to our long-term strategic growth plans as we build the independent national wealth planning firm of choice,” Roger Marsden, CEO at Succession Wealth, said.